Power giant First Gen Corp. is studying the feasibility of the P14-billion Balintingon Reservoir multipurpose project in Nueva Ecija, which would mark the Lopez family’s foray into the bulk water supply business.
First Gen president Francis Giles Puno said yesterday that the ongoing feasibility study would determine more accurately the cost assumptions for the project, including the development, construction and operation of a new hydro reservoir and a new hydroelectric power plant in the municipality of General Tinio, Nueva Ecija, for power generation, irrigation and domestic water supply.
The study will also identify the suitable capacity of the power plant, which was earlier targeted to generate 30-40 megawatts of additional capacity for the Luzon grid.
Puno, however, did not say as to when they expect to complete the feasibility study.
Last year, First Gen, through its subsidiary, First Gen Luzon Power Corp., signed a tripartite memorandum of agreement with the province of Nueva Ecija and the municipality of General Tinio for the proposed Balintingon reservoir project.
“We have taken keen interest in this project because of its potentially far-reaching contributions to the development not only of Nueva Ecija and General Tinio, but of the entire country. Once completed, this project is envisioned to provide year-round irrigation to an additional 15,000 hectares and livelihood to more than 9,000 farm families and fisherfolk,” First Gen Luzon chair and CEO Federico R. Lopez earlier said.
“The project will also generate additional megawatts of much needed power in the Luzon grid and a solution to the seasonality of bulk water supply to as far as the National Capital Region,” he said earlier.
For his part, Nueva Ecija Gov. Aurelio Umali earlier hailed the partnership as a model that should be replicated on a national scale, where private investors that possess the required financial and technical capabilities and track record could be tapped to undertake massive infrastructure projects without having to draw from government resources.
General Tinio Mayor Virgilio Bote, meanwhile, expressed confidence that the realization of the Balintingon project would not only uplift the social and economic status of the residents of General Tinio, but more importantly, enable the town’s untapped hydro resources to contribute to the power generation, irrigation and domestic water requirements of Nueva Ecija, the neighboring province of Bulacan and Metro Manila.
The planned power project has been granted a hydropower (renewable energy) service contract by the Department of Energy.